S&P500 back to 2.8k (0.5 FIB)?
The candle of today seems to herald the start of the reversal for the S&P500.
- False breakout to the upside and now at the support line of the triangle
- Stoch RSI and MACD indicating weakness
- Covid19 cases still increasing strongly which will fuel another decent move to the downside once we see the reversal clearly
- FED can keep the market up short-term but ultimately, this will save nothing
First target: 3k
Second target: 2.8k (0.5 Fibonacci)
- False breakout to the upside and now at the support line of the triangle
- Stoch RSI and MACD indicating weakness
- Covid19 cases still increasing strongly which will fuel another decent move to the downside once we see the reversal clearly
- FED can keep the market up short-term but ultimately, this will save nothing
First target: 3k
Second target: 2.8k (0.5 Fibonacci)
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